What is the average daily float for the company

Assignment Help Financial Accounting
Reference no: EM132951692

Problem 1: The XYZ Company had divided its monthly check collections into 3 batches as follows: Batch #1 has 2 days of float with average monthly collections of $80,000; Batch #2 has 3 days of float with average monthly collections of $70,000; and Batch #3 has 5 days of float with average monthly collections of $50,000. Given a 30 day month, what is the average daily float for this company?

Group of answer choices

Option 1: $20,667

Option 2: $22,222

Option 3: $23,667

Option 4: $66,667

Reference no: EM132951692

Questions Cloud

Name three factors that affect the cost of capital : Name three factors that affect the cost of capital and that are beyond the firm's control.
What is the project IRR : A project has an initial cost of $45,000, expected net cash inflows of $9,000 per year for 9 years, and a cost of capital of 10%. What is the project's IRR
What is the annual ordering cost of the maps inventory : The carrying cost is $0.21 per maps per year. The ordering cost is $411 per order. What is the annual ordering cost of the maps inventory?
What is yield to call on bond : Brandi owns a 5% coupon rate callable bond that can be called in 8 years with a 3% call premium. What is her yield to call on this bond, assuming she just paid
What is the average daily float for the company : Given a 30 day month, what is the average daily float for this company? The XYZ Company had divided its monthly check collections into 3 batches.
What is the highest price that can be paid for Bond B : What is the highest price that can be paid for Bond B to ensure a minimum yield rate that is equal to the yield rate on Bond A
Determine the effect of the pension plan on pension expense : Assuming that Cullumber follows ASPE, determine the 2020 effect of the pension plan on pension expense and the company's shareholders' equity.
What is the price of the Freiburg bond today : The bonds pay semi-annual coupons, have a face value of $1,000 each and were issued at par value. What is the price of the Freiburg bond's today
Prepare journal entry that company accountant would prepare : Prepare the journal entries that the company's accountant would prepare in 2020, assuming the errors are discovered while the 2020 books are still open.

Reviews

Write a Review

Financial Accounting Questions & Answers

  What amount of the contract was recognized last year

What amount of the contract was recognized last year? Last year, Stone Builders, Inc. started work on a P10,600,000 construction contract.

  What sum of money hector originally invested is closest to

What the sum of money Hector originally invested is closest to? Twenty years ago, Hector invested a sum of money in an account earning interest.

  Prepare a trial balance for the end of the month

Record the transactions in T accounts.(make sure that you number each transaction and use the account names that listed below). Prepare a trial balance for the end of the month.

  Calculate total stockholders equity at the end of the year

Stockholders’ equity totaled $82,000 at the beginning of the year. During the year, net income was $12,000, dividends of $3,000 were declared and paid, and $10,000 of common stock was issued at par value. Required: Calculate total stockholders’ equit..

  Which actions of the fed would relieve a tight money market

Which actions of the Fed would relieve a tight money market? Sell U.S. government securities on the open market. / Raise the discount rate

  Debt consolidation services profit making business

A service may pay off all the loans – say $25,000 worth so that the consumer now only has one debt to pay – the one to the consolidation service. How many months will it take to pay off the $25,000 loan at $437.50 per month at 12% APR compounded mont..

  Expense transfers-what is proper accounting treatment

You have just landed an accounting position with a national telecommunications company. Because this is your first job you are eager to please your co-workers and your supervisor who works closely with the controller. In addition, your supervisor giv..

  Calculate mr monash monthly repayment on the mortgage

The property Mr Monash intends to purchase is priced at $700,000. Calculate Mr Monash's monthly repayment on this mortgage.

  Determine what is net income for the current year

Determine what is net income for the current year? Prior period adjustment (increase in prior year net income, net of $ 250,800 taxes)

  Find what the respective shares of april and may will be

Find what the respective shares of April and May will be? Upon liquidation, cash of P300,000 becomes available for distribution to the partners.

  What is the initial outlay associated with the? project

What are the annual free cash flows associated with the project for years 1 through 9 under each sales? forecast? What are the expected annual free cash flows

  Service a new automobile

Kinsey places in service a new automobile that cost $36,000. He does not elect 179 expanding, and he elects not to take any available additional first-year depreciation.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd